Member Info for Scott22

GGP is trading like it is a pre-production AIM listed junior with a really great project (Havieron) in late development and fully funded, that will come into production at 220k ounces a year in 2 years as the lowest cost (ASIC US $818) gold mine in Australia.

But it is SO MUCH MORE. It is a mid-level producer that will generate 1 billion dollars ($Aus) of free cash flow THIS YEAR. It has the 3rd biggest mill in Australia. It is producing 350k ounces a year now at AISC US of $1450 from Telfer mine and the mine life has just been extended from 15 months to 3 years and will eventually be extended to 10 years, at least. And the target for production from the new mine (Havieron) has just been increased from 220k ounces to 260-300k ounces of low cost production. (details in 2nd H 2025 feasibility study). Plus they have zero debt. Plus they are graduating to a grown up ASX listing where they will be on ASX 200 index and be a target for investment by huge pension funds favorable toward Australian resource companies.

In my opinion this as an asymmetric opportunity. I am buying as much as I can . (though I also am a zero debt zone and I would not borrow to gain leverage on any stock). Please tell me what is wrong with my thinking.

They met the extended long stop deadline. Hip hip hooray. Maybe the start of a new era and the beginning of a long slogging uptrend. One can hope.

AISC estimate for original 15 months of Telfer was US $1454. Now Telfer mine line has been extended two years so that may change but likely in same rough area.

AISC for Havieron has estimate of US $818/ounce, very low cost mine. Lowest quartile globally for sure. Likely the lowest cost gold mine in Australia.

Years where Telfer and Havieron are running together (there will be further extensions of life of Telfer) will have intermediate AISC but still cheap.

I has to be just a little more complicated math.

You own 1000 shares at 12.5p = £125

After consolidation (not dilution or reduction)….

You will own 50 shares (1/20 of 1000 shares) at 250 pence (20 times 12.5 pence) = £125

Greatland is not cross listing on the ASX. They are LISTING on the ASX and will trade on AIM only as depository interests in the ASX shares. AIM shares are being retired. It will not feel any different trading in London. But it is very different. And very positive for shareholders, in my opinion.

Should be all automatic! Best to all of us in our investing journey.

I just thought my interpretation and analysis might be worth putting out there on this town hall day of celebration. I for one am going to celebrate AIM in the rear view mirror. Less shenanigans in the Greatland future. Someone give me a similar story - cash starved pre-production junior miner losing then regaining their original discovery - plus adding a profitable mine and mill and emerging with zero debt, cash in bank, and free cash flow over one billion dollars a year. I bet you cannot.

Rbrand: Here is some intelligent rebuttal. You missed the remarkable flip that happened on December 4, 2024. On December 3rd, they were a junior explorer that had found the best new discovery in Australia, the high grade Havieron Ore body. But being capital starved they had lost control to Newcrest and had only held on to 30% of it. But Newcrest had been bought by Newmont who decided to inload the nearby Telfer mine, another Newcrest asset. So miraculously, Greatland woke up on December 4 having regained 100% of Havieron. AND they now owned Telfer mine and mill! And they had no debt and cash in the bank. And since the hen they have shown that they can produce 360k ounces of gold this year and generate over a billion $ in free cash flow. And they are moving to a grown up listing in Australia and will take their rightful place in the AXE 200, or maybe even the AXE 100. How have you missed this? Improbable as it was, it happened in plain sight. I have never in my life seen a preproduction junior hanging on to only 30% of its discovery - wake up in the morning with a producing mine and mill, no debt, cash in bank, and their original discovery (best in Australia) back in their hands. My only question is - how could this even happen. Best to all.

Maybe an inauspicious start but at least I am doing my part. Have made multiple buys on several platforms. Spread is very wide but I have been able to buy at close to London price with proper limits and some patience. Better than buying directly on AIM which from US requires personal assistance from International desk. incurs a number of fees. Anyway, Empire is great story (unique almost too good to be true TiO2 ore body with scale, grade, and jurisdiction all line up), advancing quickly. One of the best speculative microcap mining stories in the world. US investors will catch on.

I have always read that ilminite has contained iron and that is part of the more expensive process to make TI pigments and metal sponge. The chemical formula for ilmenite is FeTiO3. It's a titanium-iron oxide mineral, where Fe represents iron and Ti represents titanium, both bonded to three oxygen atoms

That is a painful story Supersport. Exactly why I am not selling now to preserve what is left of my capital. Been invested in TXP for 12 years but most after Coho/Cascadura discoveries. Too long a journey to just bail while the story still has promise, and the foundation of a real turnaround if this CB deal goes through and they start drilling wells with less struggles.

Most consolidations i have been involved with (we always called them reverse-splits) have paid for fractional shares in cash. It seems like taking my money for free (would that be stealing?) if I have 99 shares and they give me 4 new shares with value of 80 shares. Anyway, my share totals in both accounts where I hold them are divisible by 20, so I am okay.

New symbol will be GRL. It is complicated but the new replacement shares will be ASX shares and will trade on AIM as depository interests. Primary listing ASX. No separate AIM shares.

each Scheme Shareholder who holds their GGP Shares in Certificated form with a registered address in a Permitted Jurisdiction (as defined in the Scheme Document) will be issued with one GRL Share for every twenty GGP Shares held at the close of business on the business day immediately prior to the Scheme Effective Date, being the time at which entitlement to GRL Shares under the Scheme is determined (the Scheme Record Time), which will be held in the form of Depositary Interests held in the CSN Facility account held by Computershare Investor Services PLC (Computershare UK), as further detailed in paragraph ‎7 of ‎Part II of the Scheme Document;

· each Scheme Shareholder who holds their GGP Shares in Certificated form with a registered address outside a Permitted Jurisdiction will be issued on the Australian share register with one GRL Share for every twenty GGP Shares held at the Scheme Record Time, and will be issued with holding statements in respect of such shares (with the exception of the holder of the one GRL Share in issue prior to the Scheme Effective Date (Greatland Resources Subscriber Share), who will be issued one less GRL Share as a result of their ownership of the Greatland Resources Subscriber Share before the Scheme Effective Date); and

· each Scheme Shareholder who holds their GGP Shares in Uncertificated form through CREST will be issued with one GRL Share for every twenty GGP Shares held at the Scheme Record Time, which will be held in the form of Depositary Interests, as further detailed in paragraph ‎6 of ‎Part II of the Scheme Document; and

· accordingly, the Company will become a wholly-owned subsidiary of Greatland Resources which will become the new holding company of the Group.

Even better they are not simply cross listing on ASX. They are getting a primary listing on ASX with ticker symbol GLR. . GGP shares will be cancelled and won't trade on AIM. CREST accounts will be automatically credited with Depository interests in GRL shares (ASX listed). Others may have to convert their shares directly. GLR will trade in London on AIM as a depositary interest. Like ADRs on NYSE for internationally listed shares. Anyway, opportunities for AIM shenanigans should be MUCH reduced. Scheme documents for the 2025 Reorganization of Greatland are all on the Greatland website. This will be a great advance for Greatland.

It is not new that there is a huge resource. What is new is proof of how uniform the high grade ore body actually is. Every hole is uniform with 50 meters of 6% titanium over area of 200,000 square meters at each site. Mapped out in 100 by 100 meter squares. They might be able to get a resource just with that spacing because the results are so uniform. Or they could drill 20 more holes at each site right in the center of the squares and drop the area of each space from 1000 square meters to 250 square meters. That would cost very little. There are well on their way to a robust resource (on only a small part of the ore body) that will support production for years. Maybe they can start with a product which will be sold to a high end pigment producer. And bring early revenue. And at the same time find a JV partner to build a metal processing plant on site, taking advantage of ample space and low cost power power and skilled work force, and railroad and port for shipping. Maybe a Japanese partner that operates in titanium metal space. Product to feed that operation will come a little later, but may be even more lucrative. So many possibilities. What they have found seems to be very unique globally in terms of size, grade, purity (only TiO2 with no contaminants), consistency of the ore body.

After June 24, Greatland will have primary listing on ASX. Will only trade in UK as depository interests (Dis) issued to depository interest holders. Current AIM shares will be swapped out for those depository interests. Only Depository interests representing underlying ASX shares will be traded on AIM.

Benefits: 1. ASX is a leading global exchange for metals/mining - 375 B total market cap in mining issues, 2. access to Australia pension pool which favors minerals and invests in ASX listed (but not AIM listed) companies, 3. better aligned with Australia resource and management. 4. index support including ASX 200 and soon ASX 100, 5. Less AIM crap, It was very useful to list here when pre-production and the institutions have raised capital and made a lot of money. But now that they are producing and generating cash flow, it is time to move to a different type of exchange, where valuations make more sense and there is more orderly response to growing revenue and earnings. Just so many benefits to leaving AIM behind.

Great interview, should get a nice re-rate, but hey this is AIM, that is not what it is about. I wish they would follow Greatland, just thank AIM nicely for the initial capital raise and support, and get the hell out of town , just jump to ASX where resource stocks are in a totally different type of environment. After June 24, Greatland will have primary listing on ASX. Will only trade in UK as depository interests (Dis) issued to depository interest holders. Current AIM shares will be swapped out for those depository interests. Only Depository interests representing underlying ASX shares will be traded on AIM. Benefits: 1. ASX leading global exchange for metals/mining 375 B total market cap in mining issues, 2. access to Australia pension pool which favors minerals and invests in ASX listed (but not AIM listed) companies, 3. better aligned with Australia resource and management. 4. index support including ASX 200 and soon ASX 100, 5. Less AIM crap. If Shaun Day can do it, so can Shaun Bunn. Do you think?

Mind you, all this from a company that AS OF DECEMBER 1, 2024 owned only 30% of their amazing Havieron discovery that was looking at 2028 production. On December 4, 2024 they emerged as 100% owner of Havieron, but also the new owner of Telfer mine and mill. And by the way, zero debt and some cash in the bank. Now they are producing at rate of 350-400 ounces a year with a fire hose of cash that will increase if there are even higher gold prices and is largely protected against downside. You have got to be kidding me if you do not think this is a remarkable flip of script and turn of fortune. I cannot wait for them to get listed on ASX and escape all the AIM games.

1. 259 million free cash flow in first quarter, tops of Australian companies.

2. Even higher now with much higher gold price.

3. Right now selling gold for $5200 with $2200 AISC.

4. Totally protected for next two years until lower cost Havieron gets added to Telfer mill.

5. Gold hedged with $4200 puts. Worst that can happen is to produce for $2200 and sell for $4200. That still gives $2000 per ounce margin.

6. Cost of those puts is included in the all in AISC.

Mind you, all this from a company that as of December 31, 2024 owned only 30% of their amazing Havieron discovery that was looking at 2028 production. On December 4 they emerged as 100% owner of Havieron, but also the new owner of Telfer mine and mill. And by the way, zero debt and some cash in the bank. Now they are producing at rate of 350-400 ounces a year with a fire hose of cash that will increase if there are even higher gold prices and is largely protected against downside. You have got to be kidding me if you do not think this is a remarkable flip of script and turn of fortune. I cannot wait for them to get listed on ASX and escape all the AIM games.

Just some brief Greatland items from new interview.

1. As of December 3, 2024 they were preproduction and just owned 30% of their superb Havieron Discovery - set for first production in 2028.

2. ⁠They now own the Telfer mine and mill and 100 % of Havieron.

3. ⁠First quarter they had Aus$ 253 million of free cash flow, leading all Australian companies. They now have Aus $398 Million of cash and zero debt.

4. ⁠They are selling gold at $5200 Australian, margin of $3000 per ounce.

5. ⁠They have next two years hedged with puts at $4200, guarantees minimum margin of $2000 an ounce. The cost of the puts is included in their AISC.

6. ⁠When Havieron comes on production, grade from that ore will be 5X higher and AISC on that ore drops greatly, to lowest in Austalia. (about $8.10 US).

Pretty sweet. What amazing flip of the script.